0001213900-20-002851.txt : 20200207 0001213900-20-002851.hdr.sgml : 20200207 20200207081703 ACCESSION NUMBER: 0001213900-20-002851 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20200205 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20200207 DATE AS OF CHANGE: 20200207 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Avalon GloboCare Corp. CENTRAL INDEX KEY: 0001630212 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MANAGEMENT CONSULTING SERVICES [8742] IRS NUMBER: 471685128 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-38728 FILM NUMBER: 20584567 BUSINESS ADDRESS: STREET 1: 4400 ROUTE 9 STREET 2: SUITE 3100 CITY: FREEHOLD STATE: NJ ZIP: 07728 BUSINESS PHONE: (646) 762-4517 MAIL ADDRESS: STREET 1: 4400 ROUTE 9 STREET 2: SUITE 3100 CITY: FREEHOLD STATE: NJ ZIP: 07728 FORMER COMPANY: FORMER CONFORMED NAME: Avalon Globocare Corp. DATE OF NAME CHANGE: 20161018 FORMER COMPANY: FORMER CONFORMED NAME: GLOBAL TECHNOLOGIES CORP DATE OF NAME CHANGE: 20150108 8-K 1 f8k020520_avalonglob.htm CURRENT REPORT

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): February 5, 2020

 

AVALON GLOBOCARE CORP.

(Exact name of registrant as specified in its charter)

 

Delaware   000-55709   47-1685128
(State or Other Jurisdiction
of Incorporation)		   (Commission File Number)   (IRS Employer
Identification Number)

 

4400 Route 9 South, Suite 3100, Freehold, New Jersey 07728

(Address of principal executive offices) (zip code)

 

646-762-4517

(Registrant’s telephone number, including area code)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbols   Name of each exchange on
which registered
Common Stock, $0.0001 par value per share   AVCO   The Nasdaq Capital Market

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

☒ Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒

  

 

 

 

 

 

Item 1.01. Entry Into a Material Definitive Agreement.

 

Item 2.03. Creation of a Direct Financing Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

 

On February 5, 2020, Avalon GloboCare Corp. (the “Company”) (the “Company”) drew down $300,000 from its credit facility under that certain credit line agreement with Wenzhao “Daniel” Lu (the “Lender”), a significant shareholder and director of the Company, which provides the Company with a $20 million line of credit (together with related documentation, the “Line of Credit”). The $300,000 draw down is intended to provide working capital for the Company to use on a temporary basis for certain obligations in connection with the Company’s business. As a result of this draw down, the Company has approximately $17.1 million remaining available under the Line Credit.  This draw down increased the total principal amount outstanding under the Credit Line to $2.9 million.

 

Item 9.01 Financial Statements and Exhibits

 

Exhibit No.   Description of Exhibit
10.1   Revolving Line of Credit Agreement, dated as of August 29, 2019, between Avalon GloboCare Corp. and Wenzhao “Daniel” Lu dated August 29, 2019 (1)  

 

(1) Incorporated by reference to the Form 8-K Current Report filed with the Securities and Exchange Commission on September 3, 2019.

 

 

1 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  AVALON GLOBOCARE CORP.
     
Date: February 6, 2020 By: /s/ Luisa Ingargiola
  Name: Luisa Ingargiola
  Title: Chief Financial Officer

  

 

 

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